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National Gas CoOGMUS:NGCI 34 Debt-to-EBITDA is 2.15 as of Dec. 2025, which is 10% below its 10-year median of 2.40. GuruFocus rates MUS:NGCI with a GF Score™ of 34/100 and a GF Value™ of ر.ع0.09 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 448 Utilities - Regulated companies, National Gas CoOG ranks better than 68.08% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for National Gas CoOG's Debt-to-EBITDA or its related term are showing as below:
MUS:NGCI'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.95 Med: 2.4 Max: 5.93
Current: 2.34
During the past 13 years, the highest Debt-to-EBITDA Ratio of National Gas CoOG was 5.93. The lowest was 1.95. And the median was 2.40.
MUS:NGCI's Debt-to-EBITDA is ranked better than 68.08% of 448
companies
in the Utilities - Regulated industry
Industry Median: 4.005
vs MUS:NGCI: 2.34
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
National Gas CoOG Debt-to-EBITDA Related Terms
National Gas CoOG Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for National Gas CoOG's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MUS:NGCI vs ATO, NI, UGI: Debt-to-EBITDA Comparison
For the Utilities - Regulated Gas subindustry, National Gas CoOG's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Gas CoOG Debt-to-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Gas CoOG's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where National Gas CoOG's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Dec. 2025) EBITDA data.
National Gas CoOG (MUS:NGCI) has a Debt-to-EBITDA of 2.15 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on National Gas CoOG. This is 10% below median its historical median of 2.40. Over the past decade, National Gas CoOG's Debt-to-EBITDA has ranged from 1.95 to 5.93. According to the industry distribution chart, National Gas CoOG ranks #143 out of 448 companies in the Utilities - Regulated industry, placing it in the top 31.9%.
Is National Gas CoOG's Debt-to-EBITDA too high?
National Gas CoOG's current Debt-to-EBITDA of 2.15 is 10% below median its 10-year median of 2.40. Over the past 10 years, this metric has ranged from a low of 1.95 to a high of 5.93. The Utilities - Regulated industry median Debt-to-EBITDA is 4.01. National Gas CoOG's value of 2.15 is 46.3% below this industry median. Based on the distribution chart, National Gas CoOG ranks #143 out of 448 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, National Gas CoOG has a GF Score™ of 34/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Gas CoOG's Debt-to-EBITDA compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, National Gas CoOG ranks #143 out of 448 companies for Debt-to-EBITDA. This puts National Gas CoOG in the upper half of its industry. The industry median Debt-to-EBITDA is 4.01. National Gas CoOG's value of 2.15 is 46.3% below this benchmark. Historically, National Gas CoOG's own Debt-to-EBITDA has ranged from 1.95 to 5.93 over the past decade. While the company's 10-year median is 2.40 vs. the industry median of 4.01, National Gas CoOG has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Utilities - Regulated company?
The median Debt-to-EBITDA among Utilities - Regulated companies is 4.01, based on 448 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Gas CoOG's current Debt-to-EBITDA of 2.15 is 46.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on National Gas CoOG. For the Utilities - Regulated industry, the median Debt-to-EBITDA is 4.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Gas CoOG's current Debt-to-EBITDA is 2.15, which is 10% below median its own 10-year median of 2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Gas CoOG stock overvalued right now?
Based on GuruFocus' analysis, National Gas CoOG (MUS:NGCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.09, compared to a current price of ر.ع0.11 — trading 18.9% above its estimated fair value. The current Debt-to-EBITDA is 2.15, which is 10% below median its 10-year median of 2.40 and 46.3% below the Utilities - Regulated industry median of 4.01. National Gas CoOG's overall GF Score™ is 34/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For National Gas CoOG (MUS:NGCI), the current Debt-to-EBITDA is 2.15 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Gas CoOG (MUS:NGCI) Overvalued in 2026?
Based on GuruFocus' analysis, National Gas CoOG stock appears to be overvalued.
The current stock price of ر.ع0.11 is trading 18.9% above its estimated GF Value™ of ر.ع0.09.
GuruFocus considers National Gas CoOG to be Modestly Overvalued.
Key valuation signals for MUS:NGCI:
Debt-to-EBITDA: 2.15 (10% below median its 10-year median of 2.40)
GF Value™: ر.ع0.09 vs. price of ر.ع0.11 (18.9% above fair value)
Industry Position: 46.3% below the Utilities - Regulated median (#143 of 448)
No single metric tells the full story. See the MUS:NGCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Gas Co SAOG operates as a Liquefied Petroleum Gas filling plant. The company is engaged in the marketing, selling, and distribution of LPG. The group's only business segment is the marketing and selling of LPG. It operates a large fleet of tankers to lift bulk LPG from refineries in the Sultanate to its plants where it is bottled into cylinders in safe and controlled conditions. The company has different sizes of tankers to meet customer demand and reduce distribution costs. The company has different departments for project and design which takes care of design, engineering, procurement, installation, commissioning and testing of all projects and post-sale services.
34GF Score
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